MIAMI -- Miami Heat President Pat Riley is speaking out at length for the first time since LeBron James left the franchise, saying that he wants the team "to be as good as it's ever been" going forward.

Riley spoke with reporters Wednesday after the team completed the signing of Chris Bosh to a $118 million, five-year contract. Riley expressed disappointment that James returned to Cleveland, and revealed that he was working under the premise during free agency that the four-time MVP would be staying in Miami.

But even with James leaving, Riley insists that the Heat will continue being competitive.

Riley says he told James before free agency that he would be telling other players that the Heat expected him back, and that James never told him to think otherwise (see full story).

Heat: Bosh signs $118 million dealMIAMI -- Chris Bosh has signed his $118 million, five-year contract to stay with the Miami Heat.

The team says Bosh signed the deal Wednesday. The sides agreed on the terms earlier this month, but the paperwork could not be completed because Bosh was on a lengthy international vacation and needed to undergo a physical before signing.

Bosh is entering his fifth season with the Heat. He was the first player to commit to the Heat this summer after LeBron James' announcement that he was leaving Miami and returning to the Cleveland Cavaliers.

Bosh averaged 16.2 points on 52 percent shooting last season for Miami. He will earn just over $20.6 million this season, and his contract is the largest in terms of total value in Heat franchise history.

NBA: Stern praises Silver for handling of SterlingNEW YORK -- Former Commissioner David Stern praised the NBA's handling of the Donald Sterling controversy and predicts it will "end well" for the league.

Stern says his successor, Adam Silver, has been "forceful" but also "demonstrated a compassionate side" in his reaction to the racist remarks that were made by the Los Angeles Clippers owner.

Silver fined Sterling $2.5 million and banned him for life after the recorded comments became public. Sterling's wife, Shelly, later agreed to sell the team to former Microsoft CEO Steve Ballmer for a record $2 billion, a transaction the league believes will close shortly even as Donald Sterling continues trying to fight in court.

Stern retired after 30 years as commissioner in February. He will be enshrined into the Naismith Memorial Basketball Hall of Fame next week (see full story).